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PALM OIL FELL 2 WEEK LOW ON WEAK EXPORT, WEAK RIVAL OILS - vyaparsampark.com
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Malaysian palm oil futures fell by RM 36 or 1.05% to RM 3681 ($ 800.22) per ton (2 weeks low) on weak export data, higher supply of rival edible oils, especially Soybean oil at lower prices. India is expected to be $ 17.1 billion during 2023, which is lower by 18%, from last year due to lower global veg oil prices. Vegetable oils, Pulses fresh and dry fruits account for 72.1% of Agricultural imports of India in year 2023.